Dr. Ruben Haesendonck: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Dr. Ruben Haesendonck
Largest movements
- Deferred charges and accrued income +€65,585
up €65,585 (+57.4%), from €114,195 to €179,780
- Cash -€19,151
down €19,151 (-12.6%), from €152,521 to €133,369
mainly Contributions, distributions and other (-€230,000) and Deferred charges and accrued income (-€65,585)
- Tangible fixed assets +€9,969
up €9,969 (+31.6%), from €31,584 to €41,554
of which Other tangible fixed assets: +€21,813
- Profit (loss) carried forward +€82,514
new in 2025: €82,514
- Other debts -€34,673
down €34,673 (-13.0%), from €266,587 to €231,914
- Tax, wage and social debts +€8,417
up €8,417 (+29.3%), from €28,682 to €37,099
- Gross operating margin +€83,398
up €83,398 (+25.9%), from €321,668 to €405,065
- Financial income -€4,873
down €4,873 (-95.1%), from €5,126 to €253
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €299,324 | €355,252 | +€55,928 | +18.7% |
| Fixed assets | 21/28 | €31,584 | €41,554 | +€9,969 | +31.6% |
| Tangible fixed assets | 22/27 | €31,584 | €41,554 | +€9,969 | +31.6% |
| Plant, machinery and equipment | 23 | €15,951 | €13,671 | -€2,280 | -14.3% |
| Furniture and vehicles | 24 | €13,558 | €3,994 | -€9,563 | -70.5% |
| Other tangible fixed assets | 26 | €2,076 | €23,889 | +€21,813 | +1,051% |
| Current assets | 29/58 | €267,740 | €313,699 | +€45,959 | +17.2% |
| Amounts receivable within one year | 40/41 | €1,024 | €549 | -€475 | -46.4% |
| Other amounts receivable | 41 | €1,024 | €549 | -€475 | -46.4% |
| Cash at bank and in hand | 54/58 | €152,521 | €133,369 | -€19,151 | -12.6% |
| Deferred charges and accrued income | 490/1 | €114,195 | €179,780 | +€65,585 | +57.4% |
| Total equity and liabilities | 10/49 | €299,324 | €355,252 | +€55,928 | +18.7% |
| Equity | 10/15 | €2,000 | €84,514 | +€82,514 | +4,126% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €82,514 | +€82,514 | |
| Amounts payable | 17/49 | €297,324 | €270,738 | -€26,586 | -8.9% |
| Amounts payable within one year | 42/48 | €297,324 | €270,738 | -€26,586 | -8.9% |
| Trade debts | 44 | €2,056 | €1,725 | -€330 | -16.1% |
| Suppliers | 440/4 | €2,056 | €1,725 | -€330 | -16.1% |
| Taxes, remuneration and social security | 45 | €28,682 | €37,099 | +€8,417 | +29.3% |
| Taxes | 450/3 | €28,682 | €37,099 | +€8,417 | +29.3% |
| Other amounts payable | 47/48 | €266,587 | €231,914 | -€34,673 | -13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,165 | €13,640 | +€475 | +3.6% |
| Other operating charges | 640/8 | €565 | €672 | +€107 | +18.9% |
| Gross operating margin | 9900 | €321,668 | €405,065 | +€83,398 | +25.9% |
| Operating profit (loss) | 9901 | €307,937 | €390,753 | +€82,816 | +26.9% |
| Financial income | 75/76B | €5,126 | €253 | -€4,873 | -95.1% |
| Recurring financial income | 75 | €5,126 | €253 | -€4,873 | -95.1% |
| Financial charges | 65/66B | €136 | €76 | -€60 | -44.1% |
| Recurring financial charges | 65 | €136 | €76 | -€60 | -44.1% |
| Profit (loss) for the period before taxes | 9903 | €312,928 | €390,931 | +€78,003 | +24.9% |
| Income taxes | 67/77 | €78,820 | €78,417 | -€403 | -0.5% |
| Profit (loss) for the period | 9904 | €234,108 | €312,514 | +€78,406 | +33.5% |
| Profit (loss) for the period to be appropriated | 9905 | €234,108 | €312,514 | +€78,406 | +33.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.